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MGMT 3P98 (2)
Lecture 14

MGMT 3P98 Lecture 14: MGMT 3P98- Term Test Key Topics

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Department
Management
Course
MGMT 3P98
Professor
Tansu Barker
Semester
Fall

Description
Term test Review: Chapter 1: Globalization 1. Globalization of markets 2. Globalization of production 3. Globalization of consumers • General Agreement on Tariffs and Trade (GATT)  successor World Trade Organization  successfully lowering trade barriers and settles international trading disputes • The international monetary fund and World Bank, goals is to maintain order in the international monetary system and the World Bank promotes economic development The United nation has four main purposes 1. International peace and security 2. Develop friendly relationship among nations 3. Solving international problems 4. Promoting respect for human rights Detours of Globalization: 1. Sovereignty  power lost by nations 2. Poor economies poor becoming poorer 3. Lost Jobs outsourcing 4. Environmental destruction pollution Why seek Global Markets: 1. Opportunity expansion: unsolicited 2. Pursue potential abroad: diversity, value=benefits outweighs the cost 3. Follow customers abroad 4. Exploiting different market growth rates 5. Globalization for defensive reasons Chapter 2: Political and Legal Environment The Legal system  refers to the rules that regulates people behaviour and business practices Types of Legal systems: 1. Common law 2. Civil law 3. Theocratic Law Political Environment: Assessment of risk 1. “grand talk”  go and observe, people must know what they are looking for 2. Use a consultant  they are familiar with the system, and laws of the country 3. Buy data from an agency Risk reduction strategy: 1. Small (limited) investment  in order to obtain a high ROI 2. Borrow Locally local partners 3. Joint venture 4. Buy political risk insurance Gross National Incomethe total income for all citizens for a country, including income from factors of production used aboard Purchasing Power Parity (PPP) an adjustment in gross domestic product per
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